ALTHOUGH THIS
PROPOSED REGULATION HAS BEEN CLEARED, WE ARE CONCERNED ABOUT THE
PURPOSE, NEED AND UTILITY OF SOME OF THE DATA COLLECTION
REQUIREMENTS AS PREVIOUSLY DISCUSSED WITH TREASURY COUNSEL'S OFFICE
THAT WILL BE ADDRESSED IN THE DEPARTMENT'S FORTHCOMING PUBLIC
HEARING. THE REGULATION IS TO BE RESUBMITTED TO OMB AT FINAL, SO
THAT CONCERNS CAN BE REVIEWED IN LIGHT OF THE RESULTS OF THAT
HEARING.
Inventory as of this Action
Requested
Previously Approved
12/31/1986
12/31/1986
1
0
0
1
0
0
0
0
0
SECTION 4611 IMPOSES A TAX ON
PETROLEUM PRODUCTS, SECTION 4661, A TAX ON CERTAIN CHEMICALS.
SECTION 4662 EXEMPTS CHEMICALS USED FOR MANUFACTURE OF OTHER
TAXABLE CHEMICALS AND FERTILIZER. EXEMPTION CERTIFICATES ARE NEEDED
TO ESTABLISH ELIGIBILITY FOR THE EXEMPTIONS. REFUNDS PROCEDURES ARE
NEEDED FOR OVERPAYMENTS. THE TAXES AFFECT PRODUCERS AND IMPORTERS
OF PETROLEUM AND CHEMICALS.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.